Reno-Tahoe Airport Authority FY 2018-19 ANNUAL BUDGET Table of Contents SECTION 1 – Introduction and Summary Airport System Overview. ......................................................................................... 1-2 National and Regional Economic Outlook. ............................................................. 2-13 Air Service Market Update. ................................................................................... 14-17 Air Cargo Update. .................................................................................................. 17-19 Operating Environment. ........................................................................................ 19-27 Budget Process. ..................................................................................................... 27-28 Revenue Bond Resolution .......................................................................................... 28 Budget Document Structure .................................................................................. 28-29 Conclusion .................................................................................................................. 29 Acknowledgments ................................................................................................. 29-30 Distinguished Budget Presentation Award ................................................................. 31 SECTION 2 – Executive Summary Strategic Plan Summary ............................................................................................. 32 Airline Activity Forecast ....................................................................................... 33-34 Aircraft Landed Weight Forecast .......................................................................... 34-36 Financial Summary ................................................................................................ 36-37 Revenue Forecast ................................................................................................... 37-39 Airline Revenues ................................................................................................... 40-42 Non-Airline Revenues ........................................................................................... 42-43 Non-Operating Revenues ........................................................................................... 43 Operation and Maintenance Budget ...................................................................... 44-47 Personnel Complement ............................................................................................... 47 Debt Service ............................................................................................................... 48 Property, Plant and Equipment ................................................................................... 49 Capital Projects ...................................................................................................... 49-51 Revenue Sharing Credit ......................................................................................... 51-52 SECTION 3 – Strategic Initiatives and Budget Goals Strategic Plan Methodology .................................................................................. 53-55 Mission Statement ...................................................................................................... 55 Values .................................................................................................................... 55-57 Business Description .................................................................................................. 57 Vision Statement ......................................................................................................... 57 Strategic Priorities and Long Term Goals .................................................................. 58 Strategic Priorities – Detailed View ...................................................................... 58-70 Key Performance Indicators and Performance Measures ...................................... 70-73 FY 2018-19 Objectives ............................................................................................... 74 Accountability Structure ............................................................................................. 74 ** Hyperlinks are Active i Reno-Tahoe Airport Authority FY 2018-19 ANNUAL BUDGET Table of Contents Strategic Plan Integration ...................................................................................... 74-75 FY 2018-19 Budget – Resource Identification ...................................................... 75-82 SECTION 4 - Organization Guide Board of Trustees........................................................................................................ 83 Additions or Changes ............................................................................................ 83-86 Vacant Positions ......................................................................................................... 86 Organization Chart ..................................................................................................... 87 Personnel Complement Summary .............................................................................. 88 Personnel Complement Detail ............................................................................... 89-94 SECTION 5 Financial and Budgetary Policies Basis of Accounting/Budgeting ................................................................................. 95 Legal Requirements ............................................................................................... 95-96 Revenue ...................................................................................................................... 96 Airline Agreement ................................................................................................. 96-98 Bond Resolution – Trust Funds ........................................................................... 99-102 Liquidity and Working Capital Policy ............................................................... 102-103 Reserve and Fund Balance Policy ..................................................................... 104-107 Investment Policy .............................................................................................. 107-108 Debt Management .............................................................................................. 108-109 Budget Process .................................................................................................. 109-111 Budgeted Revenue Sharing ...................................................................................... 111 Summary of Sources and Uses of Funds .................................................................. 112 Projected Trust Funds Balances ............................................................................... 113 Days Cash on Hand .................................................................................................. 114 SECTION 6 Revenues Revenues ............................................................................................................ 115-116 Revenue Summary by Type .............................................................................. 116-139 Budgeted Revenues ........................................................................................... 140-142 Non-Airline Revenues .............................................................................................. 143 SECTION 7 Expenditures Expenditures ...................................................................................................... 144-152 Summary of Budgeted Expenditures ........................................................................ 153 Resources Applied by Organizational Unit .............................................................. 154 Departmental O&M Expenditure Pie Chart ............................................................. 155 ** Hyperlinks are Active ii Reno-Tahoe Airport Authority FY 2018-19 ANNUAL BUDGET Table of Contents Board of Trustees Reporting Departments Board of Trustees, Internal Audit, General Counsel Summary ......................... 156-157 Board of Trustees...................................................................................................... 158 Internal Audit ............................................................................................................ 159 General Counsel ....................................................................................................... 160 President/CEO Reporting Departments President/CEO ................................................................................................... 161-165 Air Service Business Development ................................................................... 166-172 Marketing and Public Affairs ............................................................................ 173-185 Airport Economic Development ........................................................................ 186-195 Outside Properties .............................................................................................. 196-197 Executive Vice-President/COO Reporting Departments Executive Vice-President/COO ......................................................................... 198-200 Human Resources .............................................................................................. 201-210 Technology and Information